Firms that belong to the New York Stock Exchange reported record after-tax profits of US$18.2 billion for the second quarter.

NYSE member firms’ profits were up from just US$1.1 billion in the same quarter last year. Revenues were little changed however at US$62.6 billion, compared with US$61.0 billion in the second quarter of 2008. On a quarter over quarter basis, revenues were up sharply from US$39 billion, and profits were up from US$5.3 billion.

The strong Q2 results give firms an annualized after-tax return on capital of 28.9%, up from 1.7% in the second quarter last year and 8.7% in Q1. The number of profitable firms in Q2 was 139, up from 127 last year.

Data is from NYSE member firms that conduct business with the public. Revenues include firms that trade primarily for their own account, but excludes designated market makers. Revenues are predominantly derived from investment banking, trading, commissions, and interest.

IE